The Frankfurt Real Estate Industry team advised an international family office on the sale of 49 properties to portfolio manager GPEP and Universal-Investment by way of a combined asset and share deal. Universal-Investment is acquiring the portfolio on behalf of an institutional investor. The terms of the transaction, which is subject to customary approvals by the antitrust authorities, are confidential. This transaction was preceded by a structured sales process.
The 49 properties, which are located mainly in the federal states of Bavaria, Berlin, Lower Saxony and North Rhine-Westphalia, have a total rentable area of approximately 175,000 square meters. The 200 rental units are predominantly used by German food retailers and complementary non-food suppliers, and, occasionally, by DIY stores and specialty stores for home textiles.
The Goodwin team was led by partner Peter Junghänel and included associates Catharina Englert and Matthias Rüdt von Collenberg; transaction executive Dimitar Morfov; paralegals Nicole Schlink and Helena Velimirovic; and trainee Michelle Nierhaus.